Jump in Deposits

Of course those yields are highly variable and have been diluted in the past day as more users supply liquidity to Aave’s V3 deployment on Avalanche — a tweet by Stablecoin Yields on Apr. 19 shows yields of 61% for USDT, above 38% for DAI, and over 17% for USDC.

Indeed, data provider DeFi Llama shows an jump in deposits into Aave V3 deployment on Avalanche — total value locked jumped from $6.39M on Apr. 19 to $1.01B. That’s well over a hundred fold increase in a day, which shows how responsive the market is to incentives (and how quickly the resulting yields get diluted).